"The monitor overseeing a national mortgage settlement said Tuesday that Ocwen Financial Corp., one of the nation's biggest servicers of home loans, has produced unreliable information about its business practices."
"Under its December 2013 agreement with the Consumer Financial Protection Bureau and 49 states, Ocwen was required to provide $2.1 billion in relief to struggling homeowners, mostly by reducing their loan balances, and to adhere to standards for treating them fairly. The regulators said Ocwen pushed borrowers into foreclosure through illegal actions, such as failing to promptly and accurately credit mortgage payments. The company also miscalculated interest rates and charged borrowers improper fees, according to the regulators."
http://triblive.com/business/headlines/7391658-74/ocwen-mortgage-borrowers#axzz3M9E5iW1W |
